Politicians given secret pay rise

Australians who are struggling to cope with their personal finances could be among those interested to learn that politicians have been given a secret pay rise.

While the country remains somewhat in limbo following the inconclusive result of its recent election, who ever is named the next leader out of Tony Abbott and Julia Gillard will have $14,000 extra pay each year to look forward to, news.com.au reported.

It follows a "secretive" tribunals which was recently held to decide politicians' rate of pay.

The rise in the prime minister's wages means Mr Abbott or Ms Gillard will be on $268 a week more, taking their annual salary to almost $355,000.

According to the report, the leader of the opposition will see their pay increase by $191 per week, taking the annual salary to over $252,000.

Backbench MPs are also set to see their earning potential rise, after the tribunal awarded them an additional $5,372 each year.